Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: GREENLAW4-7 who wrote (72621)	9/7/2000 9:07:48 PM
From: Umunhum	of 95453

I have very painful memories of the oil crash in 1998. However without the crash, I would have never had the opportunity to load up on all the stocks that I did. Economically, I'm am a lot better off now that the crash did happen. JimL made some good points but if I recall correctly the main reason for the 1998 crash was Iraq suddenly put 2 mbpd on the open market. The other factors; the asian flu, missing barrels, and OPEC increase helped the crash along. This all according to Matt Simmons anyway. So what you need is a country to come out of nowhere and start producing 2 million barrels a day. I don't believe RIG ever traded at $15. I would have found a way to buy at least 10,000 shares. As Big Dog said when these stocks start to move they will move faster and higher than anybody thinks is possible. IMHO you should cover your shorts.

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